Crypto markets analysis 11/04/2018

The crypto marekts durring this week have coniutnue to post negative results for investors and traders, The total Capitalization of crypto currency has gained 1 Bln durring the past 5 days, and the total capitalization of crypto currency has raise from 257 BLN to 258 BLN.

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The major 10 crypto marekts still in bearish mode and in Red mode, Ethereum is now trading around 396 USD, after having reach 1000 USD in the first month of this year, litecoin also post some negaitve results and now it’s trading 115 USD.

I am still bullish for the future of crypto currency, and i Belive that we will see another really durring this year, why :

1-Some of the biggest Name of the financial world as : Soros investment fund, Rockefeller family and others institutional investors .

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2- The tax days in the USA is on 17/04/208, this has cause a huge sell off from Usa investor in order to avoid taxes, after this date, there will be a huge demand on cryptocurrency in USA .

3-The positive Development around Bitcoin by the bitcoin development core and the implation of the lighting network, this will allow bitcoin to become the first alternative for payment on the internet .

Bitcoin :

The strong support level for the price of Bitcoin is around 6659 USD if we take a look at the chart we will see a formation of a triangle bottom, The RSI is below 70, this means that we can see the formation of an uptrend movement on the chart of bitcoin, the targets profits would be 7000 USD, then 7600 USD, But make sure that you use a stop lose .

Ethereum is the first alternative to Bitcoin, after Reaching 1400 USD, this crypto currency is now traded around 396 USD, I really advice you to accumulate Ethereum at this levels and holding It in order to take profit from 1000 USD .